JOB TITLE: Chief Financial Officer (CFO)
REPORTS TO: Executive Director
SUMMARY:
The Chief Financial Officer is responsible for all financial administration and activities of the corporation. The CFO leads all financial planning, budgeting, and forecasting for the corporation by overseeing the day-to-day accounting, recording, reporting, and internal controls of the organization. Responsibilities include financial planning, communication and relationship management, risk management, leadership and development, and compliance.
RESPONSIBILITIES:
- Direct the development and implementation of the Corporation’s financial goals, objectives, policies, and priorities.
- Financial planning and analysis to identify the corporation’s financial strengths and weaknesses and propose strategic direction accordingly.
- Prepare annual budget documents for submission, act as liaison with State of Rhode Island budget office and work as necessary with the Auditor General of the State of Rhode Island.
- Conduct in-depth financial analysis to support decision-making. Evaluate opportunities, strategies, and cost-saving initiatives.
- Ensure compliance with all relevant financial regulations, accounting standards, and tax requirements, including state procurement laws and corporation policies and procedures where applicable.
- Direct and supervise the administration of the finance departments including but not limited to Accounting, Purchasing, Accounts Receivable, and Accounts Payable.
- Develop and maintain a long-term financial plan to address the future needs of the corporation.
- Lead and mentor the finance department by fostering a collaborative and high-performance culture.
- Advise on long-term business and financial planning. Review planning process and suggest improvements to current methods.
- Coordinate the preparation of the Corporation’s financial statements for annual audit and work with the Corporation’s auditors supplying necessary documentation and information to facilitate the issuance of the annual audited financial statement.
- Lead the development and use of best-practices and tools to ensure a well-controlled corporation with strong fiscal management, cross-team communications, and workflow.
- Identify and assess financial risks and implement strategies to mitigate them.
- Develop and maintain internal controls to safeguard company assets.
- Stay informed about industry trends and changes in financial regulations that may impact the corporation.
- Present financial results to the leadership team and board of directors.
- Oversee the investment of the Corporation’s trust funds through coordination with legal counsel, regulatory agencies, the investment advisor, and the trust fund custodian and recordkeeper.
- Provide effective management of the Corporation’s revenue bond activities.
- Act as a member of RIRRC’s Pension Board as well as a Trustee of the plan.
- Perform other related duties as assigned by management.
SUPERVISORY RESPONSIBILITIES:
- Directly supervises the Finance Department including accounts receivable, accounts payable, and purchasing departments.
- Carries out supervisory responsibilities in accordance with the organization's policies, by-laws, and applicable laws, rules, and regulations.
- Responsibilities include interviewing, recommending hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
QUALIFICATIONS:
- Bachelor’s degree in finance or accounting, CPA preferred.
- 7+ years of experience in accounting and finance, including five years as Controller, Finance Director, VP Finance, or CFO.
- Strong communication skills for collaboration with vendors, consultants, state agency personnel, and senior management.
- Expertise in Managerial Principles, Financial Management Principles, Practices, and Procedures, Budgeting Principles, Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) Principles.
- Expertise in applicable federal, state, and local laws, rules, and regulations.
- Proven problem-solving skills and ability to drive initiatives.
- Public accounting experience.
- Certified in Government Financial Management, Debt Management, and Investment Management preferred.
- Knowledge and understanding of the Federal Grant Writing process, including identifying funding opportunities, preparing the proposal, and submitting the proposal.
- Knowledge and understanding of the Federal Grant Reporting process, including understanding reporting requirements, gathering of data, writing the reports, and submitting the reports.
- Knowledge and understanding of different types of government bonds and benefits and risks of government bonds.
- Computer skills required: (Accounting Software (QuickBooks); Database Software (Access); Development Software; Internet Software; Manufacturing Software; Payroll Systems; Spreadsheet Software (Excel); Contract Management Systems; Design Software; Human Resource Systems; Inventory Software; Order Processing Systems; Project Management Software; Word Processing Software (Word); Electronic Mail Software (Outlook); Presentation software (PowerPoint); and Publisher software).
COMPETENCIES:
- Ethics/Integrity: Reliable in performing the duties of a CFO. Willing to take on responsibilities and be accountable. Treats others with dignity and respect and is honest in all dealings.
- Dependability/Reliability: Sets and observes own priorities for best use of time and meets deadlines and properly manages employees.
- Productivity: Understands work methods, practices, and techniques, and is proficient. Understands tasks or projects and plans and organizes work to be more efficient.
- Analytical: Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs workflows and procedures.
- Business Acumen: Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition.
- Budget/Cost Consciousness: Uses resources efficiently, strives to reduce cost, part of the budgeting process.
- Organizational Support: Follows policies and procedures; Completes administrative tasks correctly and on time; Supports organization's goals and values.
- Strategic Thinking: Develops strategies to achieve organizational goals; Understands organization's strengths & weaknesses; Analyzes market and competition.
The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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